Former state school employee Eufrasio paid in $283K to teachers' pension fund, could collect $6.22M in retirement

Former state school employee William Eufrasio, who retired in May 2016, saved $282,586 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Eufrasio would collect as much as $6.22 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Eufrasio received $130,700 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eufrasio will have already received $403,981 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.